China: Billet prices inch up d-o-d as costs stay steady; market direction remains unclear

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in Billet, Semi Finished

Chinese billet prices edged up by RMB 10/t ($1/t) d-o-d to RMB 2,950/t ($415/t), and SHFE rebar rose RMB 7/t ($1/t) to RMB 3,057/t ($430/t).
The market was steady but lacklustre and uncertain — while inventory pressure was light, mill margins were at a one-year low. Export prices slipped $1-2/t on tougher competition. Prices were supported by raw material costs, although they softened moderately.

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